Alcoa Inc. (NYSE:AA) shares are jumping more than 3 percent early Tuesday morning. The company reported fourth quarter results late Monday. After restructuring and other special items costs, the loss from continuing operations was $34 million ($0.03 per share). Looking at revenue, Alcoa reported a fourth quarter revenue of $6 billion, a 7 percent drop from the $6.4 billion in the previous quarter but a 6 percent increase from the fourth quarter’s 2010 $5.7 billion revenue.

Shares of Tiffany and Co. (NYSE:TIF) were crushed 9.5 percent after cutting its full year forecast. “After achieving very strong and better-than-expected sales and earnings growth in the first three quarters of 2011, sales weakened markedly in the United States and Europe during the holiday season, reflecting restrained spending by consumers for fine jewelry,” said Chief Executive Michael J. Kowalski.

WebMD Health Corp. (NASDAQ:WBMD) plummeted more than 30 percent this morning after ending merger talks. Wayne Gattinella has also resigned as president and chief executive officer. WebMD said it expects 2012 revenue may decline 2% to 8% compared to 2011 revenue.

Lululemon Athletica Inc. (NASDAQ:LULU) is surging almost 13 percent after the opening bell. The company announced it expects fourth quarter profit and revenue to be higher than expected. Revenue is seen between expectations of $327 million to $332 million and well ahead of $245 million in the fourth quarter a year ago. Shares of Nike Inc. (NYSE:NKE) and Under Armour (NYSE:UA) are also trading higher.

Fossil Inc. (NASDAQ:FOSL) shares are edging lower after agreeing to purchase Skagen for $236.9 million in cash and stock. “Skagen is unique and has enormous potential as a lifestyle brand,” said Fossil Chief Executive Kosta Kartsotis. “We see many similarities in the history and values of our two companies and look forward to creating something greater together.”